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Performance Technologies Names Permanent President and CEO and Announces Key Management AppointmentsROCHESTER, NY – January 17, 2007 -- Performance Technologies (NASDAQ: PTIX) today announced that its Board of Directors, upon the recommendation of its Executive Transition Committee, has unanimously appointed John M. Slusser, to serve as its permanent President and Chief Executive Officer. Mr. Slusser, age 54, has served as interim President and Chief Executive Officer since October 13, 2006. He is the founder of the Company and previously served as its President and Chief Executive Officer from 1986 to 1995. He has been a director since the Company's inception in 1981 and has also served as Chairman of the Board since 2001. Mr. Slusser will also retain his Chairman of the Board role for the present time. "As a Director over many years, I have remained familiar with various facets of the Company and its operations," said Mr. Slusser. "While serving in my recent role as interim President and CEO, I have had the opportunity to become more thoroughly acquainted with the details of our current operations and strategies, to assess our strengths, and to identify potential areas for enhancement. With this background, I am confident that we can apply the substantial technological, financial and human resource assets at our disposal toward meaningful forward progress for Performance Technologies and its shareholders. I sincerely appreciate the responsibility that our Board of Directors has entrusted in me and I am very enthusiastic about pursuing the opportunities that lie ahead for our Company." Performance Technologies also announced two key management appointments. John J. Grana has been appointed as Senior Vice President and General Manager of the Company's Embedded Systems Group. Mr. Grana, age 51, most recently served as Senior Vice President of Systems Engineering and has been with the Company since 1986. J. Patrick "Patt" Rice has been appointed as Vice President and General Manager of the Company's Signaling Systems Group. Mr. Rice, age 47, joined the Company in 2006 as Vice President of Worldwide Signaling Sales and Marketing and has over 25 years telecommunications industry experience, including key senior positions at Tekelec and Nortel. In these roles, Messrs. Grana and Rice will be responsible for the day-to-day operations of their respective business groups and report directly to John Slusser, President and CEO. About Performance Technologies Performance Technologies (NASDAQ: PTIX) is a global supplier of integrated IP-based platforms and solutions for advanced communications networks and innovative computer system architectures. Our Embedded Systems Group offers robust application-ready platforms that incorporate open-standards based software and hardware, providing significantly accelerated end product deployment benefits for equipment manufacturers. Our Signaling Systems Group offers the SEGway™ product suite, which includes IP STPs, SS7 over IP transport solutions, and signaling gateways that enable lower operating costs through utilization of IP networks, thereby creating competitive advantages for carriers in existing and emerging markets. Performance Technologies is headquartered in Rochester, New York. Additional engineering facilities are located in San Diego and San Luis Obispo, California; and Kanata, Ontario, Canada. For more information, visit www.pt.com or contact sales@pt.com. Forward Looking Statements The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. This press release contains forward-looking statements, which reflect the Company's current views with respect to future events and financial performance, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor provisions of those Sections. These forward-looking statements are subject to various risks and uncertainties and the Company's actual results could differ materially from those discussed in the forward-looking statements. These risks and uncertainties include, among other factors, general business and economic conditions, rapid technological changes accompanied by frequent new product introductions, competitive pressures, dependence on key customers, the attainment of design wins, fluctuations in quarterly and annual results, the reliance on a limited number of third party suppliers, limitations of the Company's manufacturing arrangements, the protection of the Company's proprietary technology, the dependence on key personnel, potential delays associated with the purchase and implementation of an enterprise-wide software system and potential impairments of investments. These statements should be read in conjunction with the audited Consolidated Financial Statements, the Notes thereto and Management's Discussion and Analysis of Financial Condition and Results of Operations of the Company as of December 31, 2005, as reported in its Annual Report on Form 10-K, and other documents as filed with the Securities and Exchange Commission. Note to Editors: Brand or product names are registered trademarks or trademarks of their respective holders. ####
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